Gabelli Launches Keeley Dividend ETF (KDVD)

Core Viewpoint - Gabelli Funds has launched the Keeley Dividend ETF (KDVD) on the NYSE, aiming to generate current income and capital appreciation through investments in dividend-paying small- and mid-cap companies [1][2]. Group 1: ETF Overview - KDVD is an actively managed ETF that focuses on dividend-paying stocks, managed by experienced portfolio managers Thomas E. Browne, Jr. and Brian P. Leonard, who have over 16 years of experience in dividend strategies [1]. - The ETF will invest across a range of dividend-paying stocks, from modest payers with high reinvestment opportunities to stable growers and higher-yielding names, utilizing Gabelli's fundamental, bottom-up research framework [2]. Group 2: Market Context - The current market conditions are favorable for dividend investors, as valuations in small- and mid-cap equities are more attractive compared to large-cap peers, and dividend strategies have lagged in recent years [2]. Group 3: Fee Structure - To promote the new ETF, Gabelli is waiving the standard 0.90% management fee for the first year after inception, after which the fund will revert to its stated management fee schedule [3].